Sirius to bail out XM. Announcement coming today
XM And Sirius To Announce Merger, NY Post
According to the NY Post, XMSR and Sirius will announce a merger as early as today. Both Sirius and XM trade near multi-year lows as their subscriber growth decelerates and they face competition from new consumer electronics devices like the Apple (AAPL) iPod.
The companies each has over $1 billion in debt.
A consolidation is seen as way to save hundreds of million of dollars in redundant costs, but the FCC may resist a merger which would eliminate competition in the satellite radio market.
Douglas A. McIntyre
(update)
It's official
NEW YORK - Satellite radio rivals XM and Sirius say they have reached an agreement to merge.
Speculation about a potential merger between the two companies has persisted for months, and analysts and company executives say such a deal could have significant cost savings. However, many remain skeptical that a deal would be able to pass regulatory scrutiny.
Source
According to the NY Post, XMSR and Sirius will announce a merger as early as today. Both Sirius and XM trade near multi-year lows as their subscriber growth decelerates and they face competition from new consumer electronics devices like the Apple (AAPL) iPod.
The companies each has over $1 billion in debt.
A consolidation is seen as way to save hundreds of million of dollars in redundant costs, but the FCC may resist a merger which would eliminate competition in the satellite radio market.
Douglas A. McIntyre
(update)
It's official
NEW YORK - Satellite radio rivals XM and Sirius say they have reached an agreement to merge.
Speculation about a potential merger between the two companies has persisted for months, and analysts and company executives say such a deal could have significant cost savings. However, many remain skeptical that a deal would be able to pass regulatory scrutiny.
Source
posted by Doc at 5:07 AM
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